CanaccordZENON ENVIRONMENTAL
TSE:ZEN 10.50 1.55
Volume: 85,800
The cryptosporidium (crypto) outbreak in North Battleford,
Saskatchewan has, like Walkerton, Ontario, brought the issue of
drinking water safety to the forefront. ZENON filters crypto out of
the water supply with its membrane technology. UV is the younger
technology in Canada, but it is also one-tenth of the cost of
membranes. ZEN shares have now exceeded our $10 target price. On an
P/E basis, they are expensive, but momentum may very well carry them
higher.